Separate Legal Existence. The Trust Depositor shall:
Separate Legal Existence. The Trust Depositor shall (a) maintain compliance with the covenants set forth in Section 9(j) of the Trust Depositor LLC Agreement, and (b) to the extent in addition to the covenants referred to in clause (a) of this Section 6.14, take or refrain from taking, as applicable, each of the activities specified in the “substantive consolidation” opinion of Dechert LLP, on the Closing Date, upon which the conclusions expressed therein are based.
Separate Legal Existence. The Trust Depositor shall (a) maintain compliance with the covenants set forth in Sections 1.07 and 1.08 of the Limited Liability Company Agreement of the Trust Depositor, dated as of August 5, 2005, between the Originator, the designated manager and the independent managers party thereto, and (b) to the extent in addition to the covenants referred to in clause (a) of this Section 6.14, take or refrain from taking, as applicable, each of the activities specified in the “substantive consolidation” opinion of Dechert LLP, delivered on the Closing Date, upon which the conclusions expressed therein are based.
Separate Legal Existence. The Seller acknowledges that the Purchaser, the Trustee and the Certificateholders are entering into the agreements and consummating the transactions contemplated hereby and by the Pooling and Servicing Agreement in reliance on the identity of the Purchaser as a separate legal entity, and the rights and interests of such Persons would be prejudiced if this reliance were undermined. Accordingly, the Seller will take such steps as are necessary and within its control to maintain the Purchaser's separate legal existence and identity and to make it apparent to third parties that the Purchaser is an entity with assets and liabilities distinct from those of the Seller or any other subsidiary or Affiliate of the Seller. Such steps will include the following:
Separate Legal Existence. The Parties shall maintain the separate legal existence of each Company. Each Company shall hold itself out and identify itself as a separate and distinct entity under its own name and not as a division or part of any other Person (except as a subsidiary of Parent). The Companies shall conduct their business under their respective corporate names. Parent shall not hold in its name any interest in any of the assets or liabilities of the Operating Companies or the proceeds of the assets and liabilities of the Operating Companies. Neither the Parent nor the Stockholders shall be obligated to contribute capital to the Operating Companies.
Separate Legal Existence. Neither the Borrower nor the Parent Guarantor shall permit or suffer to be made any amendment to the Limited Liability Company Operating Agreement of the Borrower or the Servicing Agreement without the approval of the Majority Lenders. Borrower shall take, or cause to be taken, all steps required to maintain the Borrower's status as a separate legal entity.
Separate Legal Existence. The Borrower shall maintain its separate legal entity as a Special Purpose Entity and make it apparent to third Persons that the Borrower is an entity with assets and liabilities distinct from those of each of the Originators, the Servicer and any Affiliate thereof, and is not a division of any Originator, the Servicer or any other Person. Without limiting the generality of the foregoing, the Borrower shall take such actions as shall be required in order that the Borrower's purpose is limited solely to purchasing the Receivables, granting security interests in the Receivables, entering into the Financing Documents and the transactions contemplated thereby and engaging in incidental activities in connection therewith.
Separate Legal Existence. The Trust Depositor shall (a) maintain compliance with the covenants set forth in the Limited Liability Company Operating Agreement of the Trust Depositor, dated as of June 20, 2006, by Ares Capital Corporation and Xxxxxx X. Xxxxxxx and (b) take or refrain from taking, as applicable, each of the activities specified in the “substantive consolidation” opinion of Xxxxxx & Xxxxxxx, LLP, delivered on the Closing Date, upon which the conclusions expressed therein are based.
Separate Legal Existence. Section 6.15 [Reserved] Section 6.16 Liability of Trust Depositor and Others
Separate Legal Existence. Section 6.15 [Reserved].
